Indian DRI, billet and re-bar update - 25 Feb

India's induction furnace (IF) steel market recorded new highs on 25 Feb'22 and offers from the mid-sized mills increased by up to INR 1,100/tonne (t) ($14) d-o-d.

Sponge iron and billet prices increased in the range of INR 100-1,100/t, with a major hike of INR 1,100/t observed in Bellary's sponge iron market.

Rebar (Fe 500) offers rose by INR 200-1,000/t across all regions, following a sharp rise of INR 1,000/t in Rourkela, Raigarh and Hyderabad.

Demand was doused today by the significant surge in prices and a majority of semi,s buyers held back bids amidst unclear market trends, SteelMint notes.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)